Younger Americans say the traditional wealth-building playbook is breaking down, and many are turning to bitcoin and other non-traditional assets as a result.
Coinbase partnered with Ipsos to survey 4,350 U.S. adults, including a subgroup of 2,005 investors with investment accounts.
Feeling locked out
The survey found younger investors were more optimistic about the economy than older investors, but more likely to say the system is stacked against them.
The report said:
“Nearly 3 in 4 younger adults (73%) say it’s harder for their generation to build wealth through traditional means, compared with 57% of older adults.”
Portfolios tilt to non-traditional assets
That frustration is reflected in asset allocation.
Younger investors reported 25% of their portfolios in non-traditional assets, compared with 8% for older investors.
Bitcoin moves to the center
The report said 45% of younger investors already own bitcoin and other digital assets, versus 18% of older investors.
It also found nearly half of younger investors want access to new crypto-related products and assets before the broader market.
The report added:
“Four in five younger adults say that cryptocurrency gives people in their generation more financial opportunities than they would otherwise have.”
Coinbase pitches an ‘everything exchange’
Coinbase said the shift is pushing demand for platforms that are always on and support a wider range of products.
The company said it is building an “Everything Exchange,” while prioritizing security and compliance.
